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Oxford University rules out investing in coal and tar sands

The University of Oxford has ruled out future investments in coal and tar sands from its multi-billion pound endowment, but said it would not divest from all fossil fuels as demanded by thousands of students, academics and alumni. Campaigners welcomed the move as a victory for the fast-growing fossil fuel divestment campaign, as it was the first time the university had made clear its position on the issue. “Many world leaders have studied under Oxford University’s spires,” said Andrew Taylor, at campaign group People & Planet. “They should be taking notes today. The lesson is: it’s time to phase out coal and axe tar sands.” The university, one of the world’s oldest and most prestigious, follows over 200 other organisations who have banned some investments in fossil fuels because of their role in driving climate change.

Re: Oxford University rules out investing in coal and tar sands

The University of Oxford has ruled out future investments in coal and tar sands from its multi-billion pound endowment, but said it would not divest from all fossil fuels as demanded by thousands of students, academics and alumni. Campaigners welcomed the move as a victory for the fast-growing fossil fuel divestment campaign, as it was the first time the university had made clear its position on the issue. “Many world leaders have studied under Oxford University’s spires,” said Andrew Taylor, at campaign group People & Planet. “They should be taking notes today. The lesson is: it’s time to phase out coal and axe tar sands.” The university, one of the world’s oldest and most prestigious, follows over 200 other organisations who have banned some investments in fossil fuels because of their role in driving climate change.